Babsphoenix

Babsphoenix

Dow Jones Industrial Average Index has broken out of the neckline of the giant head and shoulder formed on the daily time frame while simultaneously breaching the 5th January 2022 lower highs trendline in the process. We expect the instrument to grow from here, but we need confirmation before buying.

Babsphoenix Updated 

This instrument has been in a descending channel since January 2023 and it seems to be preparing for a break out using a cup and handle pattern as a launchpad. The journey to the most aggressive targets is very bumpy though and the most important of the pivot points are marked on the chart. The most conservative entry is after the breakout of the resistance of the...

Babsphoenix Updated 

Last week S&P 500 broke above a double bottom neckline and 1D MA 100 on the weekly timeframe and has continued to rally since then. A resistance and a supply zone are now in play and a pullback to retest the resistance-turned-support cluster before the rally continues. We can look for a buy opportunity on this impending retest or when the price has breached the...

Babsphoenix Updated 

TESLA is completing an inverted head and shoulder on the weekly time frame but there is also the possibility of forming a bull flag if the head and shoulder pattern is invalidated due to the presence of two dynamic resistance and the neckline. Whichever of the two patterns plays out should give a buy opportunity at the marked areas.

Babsphoenix Updated 

APT is in a demand zone while using 1D MA 100 as support. Its under a diagonal resistance that started in January 2023 which forms a cluster of resistance with 1D MA 50. A good buy opportunity is when the price beats this resistance cluster. But if price breaks through the cluster of support it is sitting on we can look for a buy opportunity at the next demand zone.

Babsphoenix Updated 

This pair has formed a double bottom on the 4H TF and the neckline has been breached and a retest is going on. We can initiate a buy trade here. Remember to practice risk control.

Babsphoenix Updated 

This pair has just broken out of a cluster of resistance with cup and handle pattern as a launchpad. The 1D MA 10 > 1D MA 20 signifying a bullish momentum. A buy trade can be initiated here

Babsphoenix Updated 

NAS 100 broke out of a descending channel and 200 DMA and its now retesting both and a bounce is expected from either of the two or a support that lies in the middle of both. Look for a buy signal on price contact with any of the three possibilities.

Babsphoenix Updated 

This index, five weeks ago, broke out of a seemingly corrective one year old bearish trend line. It seems the retest of the trend line is coming to an end and the question is which of the two credible demand zones here will initiate the recovery? the one on the edge of the trend line or the one below it? And is this impending recovery the end of the correction or...

Babsphoenix Updated 

KAVA is at the support of an ascending channel with 50% growth potential if it breaks out of the 1D MA 200 dynamic resistance .

Babsphoenix Updated 

The Dow index has formed a bullish flag pattern after breakout of 28th Dec 2021 diagonal resistance and 1D MA 200. But a horizontal resistance and supply zones are close. These can initiate a retest of the demand zone below the dynamic and horizontal resistances. A buy setup can be scouted here. And if the flag breakout is successful from here, a buy setup can be...

Babsphoenix Updated 

This pair has formed a bull flag on the weekly time frame. And the flag is in contact with a demand zone from where a bounce is likely. Joining the demand zone to form a confluence of supports here are 1W MA 50 and a horizontal resistance. A growth of 515 pips is possible from here but there are hurdles along the way

Babsphoenix Updated 

GRT just broken out of an horizontal and a diagonal resistance. A retest is going on and we can start looking for a buy setup between now and the triangular zone. The three major Daily moving averages are acting as support and 1D MA 50 > 1D MA 100 > 1D MA 200.

Babsphoenix Updated 

This pair is on a monthly resistance and it traded its way there in a descending channel. A beak of the resistance of that channel is likely going to signal the beginning of an uptrend. But attention must be paid to the dynamic resistance around the price

Babsphoenix Updated 

Silver just broke a horizontal and a 15 months old diagonal resistance clearing way for further growth. The Moving a averages also have a bullish sequence with 1D MA 50 > 1D MA 100 > 1D MA 200 and price sitting above all of them including the three moving averages on the weekly timeframe. A buys trade can be initiated here.

Babsphoenix

This instrument seems to be getting set for reversal. The price is touching the dynamic (1W MA 50) resistance since first week of march 2023 and is preparing to get in touch with horizontal resistance and the supply zone above it. We can start looking for a sell trade around this area. A fakeout init the supply zone is likely.

Babsphoenix Updated 

This asset is attempting a breakout with a horizontal , two diagonal and a dynamic resistance as hurdles. But its relatively safe to buy on the breach of the dynamic resistance (red moving average), the horizontal and the first diagonal resistance. But if the price succumbs to the resistances, the demand zone below it is another good zone to look for buy setup

Babsphoenix Updated 

NEAR seems to be experiencing a rejection at the 1D MA 200 resistance but it has a 1D MA 50 that has just been breached to fall back on as support. If that fails a cluster of demand zone and diagonal support is not too far from that point increasing the probability of an uptrend for near. We can look for buy setup at any of this areas but the safest buy...